NVDA
Posted on November 12, 2017 Leave a Comment
11/12/2017 – been almost a year since we looked at NVDA. Below you’ll see the area ID’d for a correction. This level did hold NVDA at bay and the price stayed here for roughly 6 months and THEN EXPLODED. It’s going parabolic so at a certain point, it should fall like a rock but for now the beat goes on …
did some basic price techniques that show this area ‘should’ hold it or cause a pullback. it doesn’t have to but it appears that 1700% moves usually cause consolidations or corrections and, yes, you read that correctly: 1700%. What a rocket ship.
also, you’ll see what happens in the 3rd chart below what happens when the velocity final runs out of gas … it has to fall back down to earth.
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was asked to take a look at NVDA.
what an amazing parabolic run and that’s what scares me right now … parabolic explosions do not end well so I expect now to very soon a very violent and CORRECTIVE move … however, I’ll watch this stock to find, hopefully, a pattern to BUY because this entire moves feels like a 3rd wave so another leg up is coming but for now … watch for weekly/monthly signal reversal candles to get defensive.
also, note the ‘extreme’ reading on the RSI. there is no bearish divergence, yet. so, it certainly appears that it needs/wants to correct from current levels to ‘set-up’ the bearish divergence play when it gets to new highs. but, again, this correction starting/coming is from a parabolic move so don’t get spooked if it’s violent and much more deeper than anticipated – it’s just working off the parabolic energy that blew it out.
the monthly signal reversal candle level is roughly 85, still a ways away. for now, that corresponds to the ‘top’ of the log trend line is broke out above earlier this month.
hope this helps …
B
GPRO
Posted on November 11, 2017 Leave a Comment
just sent over an update to GOPRO for Andy and the gang @seeitmarket.
here are the two charts … if we lose the daily pattern to the downside then a move to 4 isn’t out of the question …wow, hugh?
the last time this happened the market corrected 26 percent …
Posted on November 9, 2017 Leave a Comment
11/9/2017 – as you can see below and on other post we have been hawking the ratio analysis of XLP / NYSE Index. Won’t go into the why here as that has been done a number of times.
some key points to consider:
- we have completed the EXACT measured move correction and biggest since the 2009 lows.
- the last time this happened the market corrected 26% – just calling it like I see it.
- from a timing we are still not in the ZONE so it could shuck and jive here …
- RSI has hit the lower end of the range BUT note it banged around this level for a while as the market (overall market) kept going higher into 2000. so, it doesn’t HAVE TO cause a reaction.
- and, one last, today the market lost some ground right as the ratio was completing the measured move that we’ve been talking about for weeks if not months. questions?
- two charts – an update to the ratio and the NYSE Index showing how it delayed for a month once the ratio bottomed and then sold off 26%
keep an eye on this ratio!
NYSE Index showing correction once the ratio bottomed
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10/26/2017 – as you know, we were looking for support to hold on a .382 retracement of the XLP/NYA ratio. this support would cause a bounce or a move higher in the ratio and therefore bring volatility into the market. NOT EVEN CLOSE … that level has been pierced and now lower targets are shown.
folks, if your thinking of shorting I would wait .. when .382’s from all time lows don’t even cause a weekly/monthly move then something bigger is at hand going on …
I did some basic cycle work to show a time zone when the next support could come in December 2017-April 2018.
Until we elect a weekly or monthly signal reversal candle in this key ratio I wouldn’t touch the short side.
Bart
XLP / NYA ratio analysis update
Posted on October 26, 2017 Leave a Comment
10/26/2017 – as you know, we were looking for support to hold on a .382 retracement of the XLP/NYA ratio. this support would cause a bounce or a move higher in the ratio and therefore bring volatility into the market. NOT EVEN CLOSE … that level has been pierced and now lower targets are shown.
folks, if your thinking of shorting I would wait .. when .382’s from all time lows don’t even cause a weekly/monthly move then something bigger is at hand going on …
I did some basic cycle work to show a time zone when the next support could come in December 2017-April 2018.
Until we elect a weekly or monthly signal reversal candle in this key ratio I wouldn’t touch the short side.
Bart
Pound … almost time? UPDATE to the UPDATED and UPDATED 10/22/2017
Posted on October 22, 2017 Leave a Comment
10/22/2017 – pound smacked into a wall of China resistance area. this one is tough … as you can see below, we did NOT work the triangle correctly and the rally continued into the polarity zone. the reason it’s tough is because of the very nice and basic time cycle shown below. it’s almost perfect and, for roughly 30 years, this cycle has caused the pound to explode higher … the ‘middle cycle’ in the time of 2000-2002 based for a while before exploding. so, do you trust POLARITY of the CYCLE? Call me crazy but I’m in favor of the cycle for now and will be looking for a BUY opportunity over the coming weeks/months as the ENTIRE WORLD has stops right above the Polarity Wall of China resistance area ….I’ll just try to look for a pattern.
it will work or it won’t … a very interesting time indeed.
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03/22/2017 – Pound carving out a triangle and then a dump into the 1.17? Only time will tell.
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12/26/2016 – still looks like we have a little more time to go into the lows. perhaps a little lower at the targets shown (?)
